Reform And Implementation Of Property Rights System Of State-owned Commercial Bank

According to the property rights theory, efficiency can be produced only when the form of operation and administration and the operating mechanism match specific economic institutional framework, especially when they match the property rights structure. Therefore, for all sorts of problems in the state-owned commercial banks, it is very necessary to set up the property rights structure that accord with the operation way of the modern enterprise system. Practice has proved that the shareholding system is regarded as more flexible and effective property rights organizational form under the market economy condition, and it also adapts to the property rights system reform of the commercial banks of our country.There are six parts in this article.â… . The Theoretical Foundation of the Property Rights Reform of State-owned Commercial BanksThe essence of ownership is to show the owner of properties and the corresponding disposition right. The concept of property rights is wider than that of ownership in meaning. The property rights include five forms: privately-owned property rights, company's property rights, association's property rights, public property rights, state-owned property rights. Property rights system have five inherent functions: defining trading border, standardizing trading activity, forming steady expectation, improving cooperative efficiency, and raising the efficiency of resources distribution. Property rights theory think, so long as property relations are clear, each trading side will try its best to reduce transaction cost, thus realize the optimum disposition of resources. The key reasons that the clear property rights can economize the transaction cost effectively lies in the inherent functions of property rights system. The factors, such as scarcity of resources, special use of assets, information asymmetry and opportunism behavior have caused the increase of financial transaction cost. All the above factors that cause transaction cost to rise can be roughly summed up the behavior of "market failure", but "market failure" interrelates with the unclear property relations generally. So in order to reduce the cost in the financial transaction, it is necessary to make property relations clear through the property rights system reform.The state-owned commercial bank is the combination of contradiction on efficiency. The untransferablility of the right for profits make state-owned commercial banks unable to get the efficiency limits from the market. The property rights agents of state-owned commercial banks lack the ability to improve bank management, to make state-owned commercial bank assets preserve value and add up value. The business in debt of state-owned commercial banks implies the savings insurance factor. In a word, because state-owned commercial bank is limited by its property rights efficiency, this makes it lack the mechanism and encouragement to pursue maximizing profit in property rights system, thus lack the inherent motive of system changes. This has offered basic theoretical foundation for property rights system reform of the state-owned commercial bank.â…¡.The World Experience of the Property Rights System Reform of Commercial Banks By investigating the property rights system forms of commercial banks in USA, Japan, main countries of Europe, and Asian developing countries, and the property rights system reform of commercial banks in the countries of the former Soviet Union and Eastern Europe, we will find that though the concrete form distinguishes to some extent, what developed countries generally adopted is the form of the commercial bank of shareholding system, but most transition countries or developing countries have already finished or are carrying on the shareholding system transformation of the state-owned commercial bank. This has important reference meanings to property rights reform of the state-owned commercial banks of our countryâ…¢.The Orientation of the Property Rights System Reform of State-owned Commercial Banks of Our Country There are the following ma...